Score one for China! U.S. loses Asia bank tussle

March 31, 2015 12:40 AM

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Just a few months ago, Beijing's plan to build a rival to the World Bank looked like something of a quixotic mission.

With the initial deadline to join the Asian Infrastructure Investment Bank (AIIB) fast approaching, only a few countries had pledged their support. The United States, and its close allies, remained on the sidelines.